INCLASSCopy of Cash Flow Text Example

INCLASSCopy of Cash Flow Text Example - Rundell, Inc....

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Rundell, Inc. Rundell, Inc. Balance Sheets Income Statement, FYE 2010 2009 Dr. Cr. 2010 Sales 1,180,000 Assets: Cost of goods sold 790,000 Cash 26,000 97,500 Gross profit 390,000 Accounts receivable 65,000 9,000 74,000 Operating Expenses: Inventories 180,000 8,000 172,000 Depreciation expense 7,000 Land 125,000 15,000 60,000 80,000 Other operating expense 196,000 Building 200,000 60,000 260,000 Total operating expenses 203,000 Accumulated Depreciation (58,300) 7,000 (65,300) Income from operations 187,000 Total Assets 537,700 618,200 Other income and expense: Gain on sale of land 12,000 Liabilities: Interest expense (8,000) 4,000 Accounts payable 46,700 3,200 43,500 Income before income taxes 191,000 Accrued expenses payable 24,300 2,200 26,500 Income tax expense 83,000 Income taxes payable 8,400 500 7,900 Net income 108,000 Dividends payable 10,000 24,000 28,000 14,000 Bonds payable 150,000 50,000 100,000 Rundell, Inc. Total Liabilities
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This note was uploaded on 02/11/2012 for the course BUSINESS 130 taught by Professor Mccormack during the Spring '10 term at Berea.

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